Assignment 2

Assignment 2

Perspective of religion in understanding global economic system

Main features of the global economic system

Global economic system is an enormous geographical zone within which there exists a division of labor. Substantial exchange of essential or basic goods along with flows of labor and capital takes place globally. One of the main characteristics of the global economic system is that it is not bounded by a political structure which is unitary. In this system, there exists several political units that are loosely tied together in an inter-state system (Wallerstein, p. 55). Global economic system consists of several groups and cultures. These groups practice several religions, speak several languages. These cultures differ to a great extent in their daily routine activities. Neither cultural nor political homogeneity can be found in a global economic system.

Impact of religion on our worldview for providing a new understanding of globalization and economics

Religion provides a different way of looking at various aspects of life. Similarly, the subject of globalization and economics can also be viewed from a religious viewpoint. Globalization and global economic system was created by none other than the humanity itself. Therefore, we should understand and give importance to the moral aspects of the theories of globalization (Peters, p. 4). We should work towards seeking justice in the world of globalization. As the creators of globalization, human beings hold the responsibility to each other, themselves, coming generations, and God that globalization is constructed in a just and socially responsible manner. As a human being, each one of us has the authority, power, and the responsibility to take part in the current social and political processes and disclosures that shape the face of global economic system. As human beings who hold strong religions and moral values, we cannot opt out of our religious and moral responsibility. ...